OilPrices

U.S. Gasoline Prices Are Now Cheaper Than a Year Ago

After dropping for most of the month, gas prices are now lower in much of the U.S. than they were a year ago, possibly part of a larger decline in that could lift consumer confidence ahead of the summer driving season.

Obama Seeks to Confront Oil Market Manipulation

Under pressure to take action on rising gasoline prices, President Barack Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.

Oil Rises on Bullish US Manufacturing Data

The price of oil is climbing on reports that U.S. factories have cranked into a higher gear. Benchmark U.S. crude increased Monday by $1.07 to $104.09 per barrel in New York while Brent crude rose by 68 cents to $123.56 per barrel in London.

Oil Near $106 as US Denies Plan to Release Crude

Oil prices rose slightly to near $106 a barrel Friday in Asia after the U.S. denied reports it and Britain plan to release some their strategic crude reserves. Benchmark oil for April delivery was up 40 cents to $105.51 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 32 cents to settle at $105.11 per barrel in New York on Thursday. Brent crude for May delivery was up 55 cents at $123.15 per barrel in London.

5 Reasons We'll See $4 Gas by Memorial Day

Gas prices dropped at a pretty good clip in the latter half of 2011 -- down around 20% to about $3.25. Hope you enjoyed it while it lasted, because gas is back on the rise. It's near $3.50 now, and the key trends all signal that it'll keep going higher.

Why Carnival Will Never Be Great Again

It's now been two weeks since the Costa Concordia accident off the Tuscan coast of Italy. That tragic event aside, cruising is still a remarkably safe vacation choice. What's probably not as safe is investing in Costa's parent Carnival.

Why Gas Could Hit $5 a Gallon This Summer

If you think you're paying a lot at the gas pump now, just wait until summer hits. Stronger demand could lead to record gas prices as an economic recovery takes hold and turmoil in the Middle East sends the price of oil upward. How high? $5 a gallon isn't out of the realm of the possible.

How to Heat Your Home for Free (or Profit) This Winter

Like they say: If you can't beat 'em, join 'em. With the price of home heating oil on the rise, and likely to go on rising due to global politics, now might be a good time to place a bet on oil to hedge against the costs of keeping the homestead warm.

Oil Prices Fall as Greece Debt Talks Continue

Oil prices fell Friday as Greece's debt negotiations sparked new concerns about Europe's financial problems. Greece officials said that they are confident a deal will be reached with private creditors who are being asked help ease the country's debt load. An agreement is necessary for Greece to receive a new round of bailout money to prevent a default on its debt.

4 Reasons to Book a Cruise Now

Last weekend's Costa Concordia accident, when the Carnival luxury liner tipped over after running aground on a rock off the Tuscan coast, was a thankfully rare tragedy. But even one such event is enough to scare some people away from floating vacations. If you're not one of the skittish, that temporary slowdown in bookings is just one reason this is a great time to schedule a cruise.

3 Reasons Oil Prices Are Headed Higher in 2012

Americans have grown used to oil at $100 a barrel and paying more than $3 per gallon for gas at the pump. But don't get too comfy -- the price of filling up is probably going up in 2012.

Prepare for Higher Heating Bills this Winter

This winter's weather is forecast to be milder than last year's, but many Americans will get a cold chill when they open their heating bills. Average household spending for the season will rise for natural gas and propane, and those who use heating oil will see their highest winter bills ever.

As Katia Moves Toward the Gulf, Oil Rigs Shutter

Katia, still a tropical depression, is slowly moving toward the Gulf of Mexico, and several oil firms have begun to pull workers from offshore rigs. Depending on its path, the storm could further disrupt production and refining: Is Katia about to bump the price you pay at the pump?

Gas Prices Move Even Lower Ahead of Labor Day

The drop in gasoline prices has begun to accelerate, with the cost of a regular gallon declining almost 10 cents in the last month. At this rate, could prices drop below $3.50 in mid-September, after the end of the Labor Day driving season?

Gas Prices Start Falling After Oil Decline

It looks like consumers are finally starting to see lower prices at the pump, with auto club AAA reporting a modest decline in gas prices this week. The drop comes after crude oil prices have fallen 20% since July. What does this mean for the economy?

Bright Spot of the Market Collapse: Gasoline Prices

If there's one good thing that came out of Thursday's dizzying market slide, it's the fact that consumers could soon feel a little less pain at the pump. Oil futures also fell along with stocks on fears of lower demand. And gasoline prices should soon follow suit.

Gas Prices Creep Up as Oil Hits $100

WTI crude oil hit $100 a barrel briefly Thursday, a rise at partly attributed to an apparent settlement for the Greece debt crisis. The price of gasoline usually lags the price of oil, so if that pattern holds, consumers can expect higher gas prices soon -- unless certain other factors come into play.

Earnings Season: Harbinger to Next Round of Layoffs?

Wall Street will watch second quarter earnings for telltale signs that the economy has slowed or that corporate margins are even tighter than is feared. But the ones reporting negative outlooks are likely to go back to the same old solution they used so often in recent years: layoffs.

How to Put Your Gas Savings into Overdrive

If you're among the 39 million Americans on the road for the Fourth of July weekend, you're burning up hard-earned money with every mile. Pump prices were still averaging a hefty $3.55 a gallon across the nation for regular on July 1, so it's time to fuel up on gas-saving tips.

The Financial Landscape: Gas Is Falling; Euro is Failing

Even before the International Energy Agency and the White House announced they were releasing billions of gallons or oil from fuel reserves, gas prices were falling. In the past two weeks, a gallon is down more than 11 cents. Also falling -- hopes for the euro, and the outlook for U.S. Treasury bonds.

White House to Tap Strategic Petroleum Reserve

Describing the president as "deeply concerned" about the impact on global economic growth of oil supply disruptions in the Middle East and North Africa, the Obama administration announced it would release 30 million barrels of oil from the Strategic Petroleum Reserve over the next 30 days.

Plunging Oil Prices Lead Stocks Lower

An unexpected jump in claims for unemployment benefits and plummeting oil prices are driving stocks lower. Oil prices fell 5% after the IEA said it would release 60 million barrels of oil to make up for the loss of Libyan exports.

Oil Falls as Worries About Europe Debt Crisis Continue

Concerns about the European financial crisis are still dragging down the price of oil. Benchmark crude for July delivery fell 32 cents to $92.69 per barrel in Monday midday trading. All eyes remain on Greece, which is trying to implement tough new austerity measures necessary to keep international aid coming.

Airline Stocks Despite Travel Alert

Despite the State Department issuing a travel alert Sunday following the killing of infamous terrorist Osama Bin Laden, Wall Street analysts expect airline stocks to continue their upward ride Monday.

Gas Prices Stabilize ... For Now

The cost of regular gas nationwide Sunday was $3.548, down from $3.557 the previous week. However, the dip probably won't last long.

The Dow Jumps as Oil Dips and Banks Rally

After a rough opening session on Monday, stocks rallied sharply on Tuesday. The Dow enjoyed a triple-digit gain after oil prices eased and bank shares bounced higher on the possibility of further dividend payouts and share buybacks.